The millennials growth in the workforce and HRM approach
The ideal role of HRM would be to understand the mindset of
millennials and build a strategy around it which would enable to create long
term work commitments. This will also create win-win situations for both
company & employees. Continual appraisal of HR policies and procedures to
make sure that the policies supported the ethos of a ‘great place to work' and
did not inadvertently work against it (Anderson, 2011).
Providing freedom with accountability and measuring targets will
help to motivate millennials to perform better. Regular checks and adjust by the
superiors will help to keep the millennials on track with the end goal. This
would also enable a suggestion culture where millennial thinking can carve the way
for continuous improvement. Millennials track progress in professional careers thus
growth within the company needs to be discussed at different stages for clarity
between the millennials and the company. This would enable taking challenges and
keep moving forward.
Effective HRM of millennials will create positive vibes within a company due to the energy levels. This will also create long-term bonds between millennials and the company. This would increase brand identity through the social media platform which is a strong tool nowadays.
Conclusion
Millennials are becoming a valuable resource in the modern era. Effective
HRM will enable to get the maximum outcome from the millennial workforce which
will positively impact company brand identity and also pave the way to face the challenge of 2025.
References
Human Resource Management for MBA Students 2nd Edition By Iain Henderson Published by the CIPD. Copyright © CIPD 2011.
ASG Strategy, Milenials and work place, 2018.
The Common Characteristics of Millenial Professionals, Sally kane, 2018.
ENGAGEMENT MULTIPLIER, 2021, Millennial Employee Engagement? Rule #1 is Understanding.
What years and ages are Millennials, Gen X and Gen Z groups?, Gibbs , Dan, 2021.
https://www.google.com/url?sa=i&url=https%3A%2F%2Fsourceessay.com%2Fchallenges-in-human-resources-management-working-with-millennials%2F&psig=AOvVaw1ruhgqvAmdUlIgEgaIQrcY&ust=1628065527142000&source=images&cd=vfe&ved=0CAwQjhxqFwoTCPjVru-2lPICFQAAAAAdAAAAABAD
Interesting topic Pradeep. One of management's major objectives is to develop engagement strategies. Managers who have developed successful retention strategies for millennials, on the other hand, will have placed those strategies in the corporate archives. Developing strategies to engage millennials necessitates a completely different approach – and strategy.
ReplyDeleteThanks for sharing
Thank you Umesh for your valuable comment. As you mentioned, the retention strategy will play a significant role in the HRM aspect for millennials. In order to face current business volatility with retention, the strategy development wants to more focus on the people aspect with focusing 75% millennials workforce increase in 2025.
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ReplyDeleteHR professionals understand that they must adapt human resources for millennials. However, what many HR professionals have failed to modernize is the way they deliver HR services to millennials, or the way they handle HR-related questions and transactions. Timely and discussable topic.
Thank you for your valuable comment Oshadha. As per Strategies (2021) by 2020, over 50% of the workforce will comprise the Millennial Generation and that will increase up to 75% by 2025, If HR professionals fail to include HR systems that satisfy the expectations of millennials, it can have a detrimental influence on an organization's growth.
DeleteMillennial are born in an electronic era and they are innovative and familiar with technology than the other generations. Therefore by implementing the correct HRM strategies they can be a great benefit for organisations.
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ReplyDeleteMillennials seek a job as an opportunity to connect and grow while feeling like an organic part of the company. This is a highly attractive quality that organizations can offer to attract and retain millennials (berger, 2020). On the other hand they don't like to spend long hours at work. Organisations must link the traits and skills of millennials to Organisations Mission to take the maximum advantage. Thankyou for sharing this interesting article Pradeep.
ReplyDeleteMillennials represent the largest generation within the current workforce in globally which means they are the largest generation of active workers. This is the group willingness to work long hours, with multi-tasking ability and well educated, skilled in technology, very self-confident and have plenty of energy. They have high expectations for themselves, and so as to the company. As you said Pradeep this is a valuable resource for any organization’s HR era.
ReplyDeleteAgreed with you Pradeep, this is a very helpful resource for the HR department of any company. Millennials are the largest group in the workforce, born 1981–96. Younger generations are more comfortable interacting online since they grew up with the internet. This group's desire to work long hours, multitask, be well educated, technologically proficient, and exhibit a high degree of self-confidence and passion. They clearly have high expectations of themselves and the company as a whole.
ReplyDeleteAmazing Topic . Since millennials are already the largest segment in the workplace, there should be proper and matching approach to manage millennials. If organizations follow typical methods they will not be able to get the maximum outcome from millennial work force. The key to manage millennials effectively is flexibility and opportunity for them to grow. Thank you so much for sharing this info.
ReplyDeleteGood topic to bring in to a discussion Pradeep. Appreciate for sharing this.
ReplyDeleteIn the leading world, organizations are facing different level of challenges. Managing the millennial workforce is a little stressful task. By identifying the talent and the pulse and the approaches to resonate the millennials in a workplace, can be the winning platform.
Leadership should listen patiently and give opportunity to share their ideas would also encourage the team millennials to attract with the organization.
Very good explanation .Millennials have had a profound influence on the way work is done and business is conducted all over the world, from shorter work hours and less unpaid overtime to company perks like free gym memberships, in-office snack bars and even nap pods to help boost productivity during daytime work hours.
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